Clipper Realty (NYSE:CLPR) Downgraded to Hold at ValuEngine

ValuEngine lowered shares of Clipper Realty (NYSE:CLPR) from a buy rating to a hold rating in a report released on Tuesday morning, ValuEngine reports.

A number of other research analysts also recently issued reports on CLPR. Zacks Investment Research downgraded Clipper Realty from a buy rating to a hold rating in a report on Thursday, October 24th. B. Riley set a $18.00 price objective on shares of Clipper Realty and gave the stock a buy rating in a research note on Thursday, October 17th.

Clipper Realty stock opened at $9.13 on Tuesday. The firm has a market cap of $159.44 million, a price-to-earnings ratio of 17.90 and a beta of 0.01. Clipper Realty has a 52 week low of $8.50 and a 52 week high of $13.87. The business’s 50-day moving average price is $9.37 and its 200 day moving average price is $10.83.

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Monday, November 25th were given a dividend of $0.095 per share. The ex-dividend date was Friday, November 22nd. This represents a $0.38 annualized dividend and a yield of 4.16%. Clipper Realty’s dividend payout ratio is presently 84.44%.

Several institutional investors have recently modified their holdings of CLPR. Squarepoint Ops LLC boosted its stake in shares of Clipper Realty by 69.6% during the 3rd quarter. Squarepoint Ops LLC now owns 19,714 shares of the company’s stock worth $201,000 after acquiring an additional 8,090 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of Clipper Realty in the 3rd quarter valued at about $26,000. Monarch Partners Asset Management LLC raised its holdings in Clipper Realty by 51.4% in the 3rd quarter. Monarch Partners Asset Management LLC now owns 106,822 shares of the company’s stock worth $1,089,000 after purchasing an additional 36,276 shares during the period. Wedge Capital Management L L P NC acquired a new position in Clipper Realty in the 3rd quarter worth about $616,000. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Clipper Realty by 14.6% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 18,214 shares of the company’s stock worth $186,000 after purchasing an additional 2,327 shares during the period. Institutional investors and hedge funds own 63.75% of the company’s stock.

Clipper Realty Company Profile

Clipper Realty Inc (NYSE: CLPR) is a self-administered and self-managed real estate company that acquires, owns, manages, operates and repositions multifamily residential and commercial properties in the New York metropolitan area, with a portfolio in Manhattan and Brooklyn.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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